NEW DELHI (Reuters) - Era Constructions Ltd. plans to raise $100 million through foreign currency convertible bonds latest by January, as it seeks bigger projects at home and enters overseas markets, its chief said.

The company also expected its order book to reach 40 billion rupees by March 2007, from the current level of 20 billion rupees to be executed in two years, Chairman and Managing Director H.S. Bharana told Reuters in an interview on Wednesday.

"As we bid and enter bigger projects we need bigger capex," he said.

Era, whose largest order this year was worth 3.3 billion rupees for a highway project, also planned to bid for the forthcoming 'freight corridor' plan of the Indian Railways, in which each project could be worth at least 10 billion rupees, he said.

The company expected consolidated earnings per share to reach 75 rupees at the end of this fiscal year, compared with 22.4 rupees last year, he said. He also projected an EPS of 150 rupees in 2007/08.

100 M.$ ? A 100 M2 HOUSE COST 200t$ so with 100M.$ they could build 50 appartment. let say they will make something like 20t$ per apartment, and pay 18% VAT + custums tax + tax on income + travel = max 300t$ profit min 0, I will defdinitevly dont call it a TARGET :D